{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{4}{c}}
\hline\hline
                &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}\\
                &\multicolumn{1}{c}{\shortstack{g\_t \\ (Sectors)}}&\multicolumn{1}{c}{\shortstack{ g\_t \\ (Sectors)}}&\multicolumn{1}{c}{\shortstack{g\_t \\ (Firms)}}&\multicolumn{1}{c}{\shortstack{g\_t \\ (Firms)}}\\
\hline
L4.Log Purchases&    0.472\sym{***}&    0.440\sym{***}&    0.590\sym{***}&    0.579\sym{***}\\
                &  (0.021)         &  (0.022)         &  (0.012)         &  (0.013)         \\
[1em]
Sector FEs      &      Yes         &      Yes         &       No         &       No         \\
[1em]
Firm FEs        &       No         &       No         &      Yes         &      Yes         \\
[1em]
Time FEs        &       No         &      Yes         &       No         &      Yes         \\
\hline
Observations    &     1750         &     1750         &     5003         &     5003         \\
\(R^{2}\)       &    0.943         &    0.947         &    0.602         &    0.624         \\
\hline\hline
\multicolumn{5}{l}{\footnotesize Standard errors in parentheses}\\
\multicolumn{5}{l}{\footnotesize \sym{*} \(p<0.05\), \sym{**} \(p<0.01\), \sym{***} \(p<0.001\)}\\
\end{tabular}
}
